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How many new shares will Laybuy have

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Question - Laybuy Ltd is the target of a takeover bid. It has $1.5 million worth of convertible bonds outstanding with face value of $1000 for each bond.

Conversion Ratio (CV) = Number of Laybuy common shares issued when debt converted at face value = 25

If the convertible bonds are converted into shares, how many new shares will Laybuy have?

a. 37,500

b. 375,000

c. 1,500

d. 27,273

Reference no: EM132857415

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